Eric Sprott of Sprott Asset Management was just on CNBC talking about how he doesn’t trust the current economic environment, and how he’s long precious metals.
- 0:10 I haven’t bought into this equity rally, and I have serious concerns about the banking industry’s debts
- 0:50 Very concerned about China and the potential cooling in lending there
- 1:35 Not convinced the GDP growth in China is equal to the amount of stimulus that they have used
- 3:30 Gold has been the investment of the decade, and it looks better today than it has ever looked due to sovereign risks
- 4:20 Silver has great opportunity, and may ‘act’ better than gold; not optimistic about cyclical metals like copper
- 5:45 We’re long precious metals, and oil and gas; most levered positions possible
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